Our house Charlotte program is a down payment advice system you to definitely will bring financial assistance to certified very first time home buyers who require to order a home inside the Charlotte restrictions or even in an effective designated Neighborhood Profile Components (NPAs). Paid and you can applied of the Charlotte-Mecklenburg Housing Connection as well as the Town of Charlotte, this method was designed to promote home ownership possibilities to some one and you will family members and increase the production from reasonable homes from inside the Charlotte. This program can be used along side an excellent FHA, Va or 31-12 months fixed rates traditional mortgage. FHA 203K fund aren’t permitted.

The amount of money provided by the house Charlotte system are widely used to pay for the newest initial costs associated with the acquisition of a beneficial home new down payment and you may/otherwise closing costs. Money can also be used getting notice pick-down.

For-instance, if you loans the purchase away from a property having a FHA financing, the financial institution requires on the best way to spend a great step 3.5% downpayment (step three.5% of the price) out of your fund. Continua a leggere